Betterment at Work has rolled out a product that lets small businesses automatically match workers’ student loan payments with 401(k) contributions.
Betterment’s solution arrives as a provision of the SECURE 2.0 legislation goes into effect that makes employees’ qualified student loan repayments eligible for 401(k) matching contributions from their companies.
"We know that student debt can be a major impediment to saving for retirement," Sarah Levy, CEO of Betterment, said in a statement. "Our industry-first student loan 401(k) matching solution is a compelling addition to our modern 401(k) that will help to broaden plan participation to those whose student debt previously kept them from saving for retirement."
Workers can record qualified loan payments on Betterment’s 401(k) platform and their employers can then match those with a contribution to the workers’ 401(k) accounts.
The solution lets employers make the match on loan repayments annually, even if they make other 401(k) matches at each payroll period.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
